13F Insight
DOSSIER · 13F-HR · Q2 2026

MASTERS CAPITAL MANAGEMENT LLC

$3.9B in tracked AUM across 93 positions as of Q2 2026.

MC
CIK 0001104186 · last filed Jun 30, 2026
Total AUM
$3.9B
as of Q2 2026
Holdings
93
—
positions
Whale Score
68
68
tracked
Activity
—
no data
changes this Q
AI Analysis · Q2 2026
Comprehensive Analysis of Masters Capital Management LLC 13F Filing
1. Portfolio Overview

Masters Capital Management LLC has undergone a significant transformation in the quarter ending September 30, 2025. The firm executed a drastic portfolio contraction, reducing total assets under management (AUM) from $2.57 billion to $1.15 billion, a decrease of 55.1%. This reduction was driven not merely by market performance but by substantial capital reallocation, evidenced by the exit of ...

The portfolio currently consists of 34 holdings, indicating a streamlined approach compared to the previous period. The most striking feature of the current portfolio is its heavy reliance on a single position for market exposure. The strategy has shifted from a diversified stock-picking approach to a "core and satellite" model, where the bulk of the portfolio is invested in a passive index tracker, and the remainder is allocated to high-conviction, high-volatility individual names.

2. Key Holdings
Analysis generated by 13F Insight from SEC Form 13F filing data · Q2 2026. Methodology

Quarter at a glance — Q2 2026

Position-change comparison pending.

No quarter-over-quarter changes available.

Top 10 holdings

By portfolio weight as of Q2 2026.

#HoldingValueSharesWeight
01
SPY
STATE STR SPDR S&P 500 ETF T
$747M1.0M19.2%02
BA
BOEING CO
$216M1.0M5.6%03
BABA
ALIBABA GROUP HLDG LTD
$192M2.0M4.9%04
NEM
NEWMONT CORP
$187M2.0M4.8%05
G1151C101
ACCENTURE PLC IRELAND
$162M1.3M4.2%06
GM
GENERAL MTRS CO
$154M2.0M4.0%07
DAL
DELTA AIR LINES INC
$140M1.5M3.6%08
C
CITIGROUP INC
$140M1.0M3.6%09
UPS
UNITED PARCEL SVCS INC
$140M1.3M3.6%10
INTC
INTEL CORP
$140M1.0M3.6%

Filing history

2026Q2Jun 30
$3.9B▲ 28.8%
93 positionsView →2026Q1Mar 31
$3.0B▲ 23.5%
98 positionsView →2025Q4Dec 31
$2.5B▲ 112.5%
85 positionsView →2025Q3Sep 30
$1.2B▼ 55.1%
34 positionsView →2025Q2Jun 30
$2.6B▲ 26.2%
80 positionsLocked2025Q1Mar 31
$2.0B▼ 24.9%
82 positionsLocked2024Q4Dec 31
$2.7B▲ 32.0%
90 positionsLocked2024Q3Sep 30
$2.1B▲ 15.4%
72 positionsLocked2024Q2Jun 30
$1.8B▼ 36.2%
70 positionsLocked2024Q1Mar 31
$2.8B▲ 14.1%
79 positionsLocked2023Q4Dec 31
$2.4B▲ 35.5%
69 positionsLocked2023Q3Sep 30
$1.8B▼ 27.8%
63 positionsLocked
Showing 12 of 100